Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002)RegulationsAmendment Regulations to the Mineral and Petroleum Resources Development Regulations, 2020Chapter 4 : General and Miscellaneous Regulations77. Retention fees |
| (1) | The retention fees payable as contemplated in section (35)(2)(a) of the Act must be paid at the Office of the Regional Manager in whose region the retention permit was obtained and shall be as follows: |
Year |
Rand/ha |
1 |
5000.00 |
2 |
5500.00 |
3 |
6000.00 |
| (2) | The retention fees contemplated in subregulation (1) will be revised annually. |
| (3) | For a renewal of a retention permit granted in terms of section 34(1) of the Act, the rates in subregulation (1) will double and shall be as follows: |
Year |
Rand/ha |
1 |
10000.00 |
2 |
11000.00 |
| (4) | The retention fees must be paid by the holder of such permit annually in advance and not later than 30 days from the commencement date of such permit and thereafter not later than 30 days following the anniversary of each respective year of the retention permit for the duration thereof. |
| (5) | If the retention fees referred to in subregulations (1) and (3) are not paid punctually on the due dates of payment, the holder shall be in mora debitoris and shall pay interest thereon at the rate prescribed in terms of section 80 of the Public Finance Management Act, 1999 (Act No. 1 of 1999) reckoned from the day following the last day allowed for payment up to and including the day of payment. |
| (6) | Where advance payments have been made and the retention permit is abandoned, suspended or cancelled before the lapsing date of such permit, no refunds of retention fees paid will be allowed. |